-
Ground Breakers: Can copper really be the new oil?
We’re more than two years on from Goldman Sachs’ call that copper will be the new oil in the green energy transition. Since then prices have been volatile — wallpaper used by companies sensitive to the fears of investors for ‘have gone down’ — but have continued to threaten a breakout when the global economy turns around from 2023’s rate rise nightmare. Having topped out at US$10,700/t in May and then October 2021, the red metal is now fetching a little under US$8700/t for three month delivery on the LME. At the moment the last prediction out of the International Copper Study Group was that a small ... (full story)